Emerge Capital Retained by Elite Flight Solutions for Restructuring and Business Development Services
HOUSTON, Feb 16, 2006 (PRIMEZONE via COMTEX) -- Emerge Capital Corp. (OTCBB: EMGC) announced today that its wholly owned subsidiary, Corporate Strategies, Inc., has signed a two year services agreement with Elite Flight Solutions (OTCBB: EFLT) Corporate Strategies' CEO Tim Connolly will lead the restructuring, business development, and acquisition activities called for under the agreement.
Bruce Edwards, President and CEO of Elite, stated, "We believe that Emerge Capital provides us with some of the best, most experienced advisors in the micro-cap public markets. We look forward to working closely with them on developing and executing our new strategic plan for Elite." Tim Connolly, CEO of Emerge Capital, added, "This agreement is consistent with our plan to provide micro-cap public companies strategic services with a significant equity component in success fees. As the shareholders of Elite benefit from future growth and focus, Emerge Capital should benefit from the increase in value of our own equity holdings in Elite. We look forward to working on this opportunity with Elite."
Emerge Capital Corp. provides Business Restructuring, Turnaround Management, and Advisory Services for emerging and re-emerging public and private companies through its wholly owned operating subsidiary, Corporate Strategies, Inc. (CSI). CSI helps micro-cap public companies accelerate growth, provides working capital strategies, funding alternatives and in select cases, makes direct investments in our client companies. CSI markets its turnaround services to hedge funds, institutional investors, and banks that have significant exposure in troubled micro-cap public companies. Typically, these companies are in operational or financial difficulty, may be in default of lending or equity agreements, and may be facing bankruptcy or liquidation if their operations are not turned around. CSI is compensated with cash payments on a monthly or quarterly basis, and the most significant part of our compensation is in outright grants of equity in the form of common stock, and/or warrants for purchasing common stock. We believe this compensation plan provides us with an opportunity to achieve venture capital like returns on our equity participation, and aligns our interests with the client company and its shareholders because our ultimate compensation is determined by successfully increasing shareholder value. This performance based arrangement clearly demonstrates that our interests are consistent with the goals of our clients, their shareholders, and the shareholders of Emerge Capital Corp.
This news release was distributed by PrimeZone, www.primezone.com
SOURCE: Emerge Capital Corp.
By Staff
CONTACT: Emerge Capital Corp./Corporate Strategies, Inc. Darla Blaha (713) 621-2737 news@corporate-strategies.net
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